Post-Bank Foundation Set

"The plans will include some affordable apartments as required under the city’s new inclusionary zoning ordinance, Fowler said. That fact, along with rising interest rates, has made the quest for financing harder."

Oh, great. More evidence that the city's new "IZ" ordinance has stifled new housing production in New Haven. The Board of Alders should consider reversing that ordinance immediately.

Since we are not building anywhere near enough new units to keep up with the tidal wave of demand for housing in this area, we're going to continue to see double-digit-percentage increases in rents and home prices here.

That trend might be fine for existing landlords, but it is terrible for people who are trying to rent a home or buy a house, and is also detrimental for local businesses that are looking to hire workers here.

There needs to be more than 100 apartment units built at this location.. Given the area which includes Yale university, the hospitals, and all the new biotech companies that are also bringing new jobs to the city: It would make sense for this development to be "mixed-use" and also transit oriented.

I think both of the train stations will also play a big part for people needing housing, even if they have to take a train to travel elsewhere for work, but in general the city should aim towards more affordable housing for more that gets built.

What's the point in trying to make a place livable for people if most people that want to stay here aren't going to be able to afford the cost of living?

The rents allowed under the IZ ordinance are about half of market rents for new construction. So the ordinance reduces gross revenues of affected developments by about 2.5% outside the Core Area in and adjacent to downtown and 5% inside this area. (The impact on net operating income and profit are harder to estimate.)

In addition, developments in the Core Area must give Section 8 tenants preference for 5% of the units. As I have told the City Plan Commission, I fear that this provision is entirely unworkable. This is particularly unfortunate because while Section 8 serves low-income households, the units described above will likely go to moderate income households earning $30,000 to $45,000 (struggling rather than poor).

I think the zoning ordinance is reasonably clear that these requirements would apply to this proposed development. But the developer may plausibly argue otherwise and has strong financial reasons to do

Under the zoning ordinance, the affordability requirements do not apply to developments that received land use approvals before February of 2022. City Plan Commission approved the site plan for the hotel in January 2019. The developer may choose to configure the residential building the same way as the hotel. In other words, it would have the same footprint, elevation, floor-area ratio etc. While developers submit interior floor plans as part of site plan review, the zoning ordinance has no specific requirements with regard to them.

quinchionn, I believe the following are true.

@KevinMcCarthy,

Although it's certainly true that the city is in a current building boom: it would also make sense to me if developers started to build more housing that made more sense for people wanting to live in a smaller but growing city like New Haven.

It's very positive and encouraging to be basically be an advocate for how housing should be built here.. which I'm sure is not only me, but so many others who also cares deeply about this town and the direction it should move in going forward.

But then again, I always respect the opinions of others and is willing to hear people out from the perspective they have about whatever story, topic, or article is posted here on the NHI.

quinnchionn, we agree that New Haven needs more housing, market rate and subsidized. I've testified for developments, in my neighborhood and elsewhere. But for-profit developers are only going to build projects they think will generate profits.